summary
Introduced
12/18/2024
12/18/2024
In Committee
01/17/2025
01/17/2025
Crossed Over
01/16/2025
01/16/2025
Passed
02/15/2025
02/15/2025
Dead
Signed/Enacted/Adopted
02/27/2025
02/27/2025
Introduced Session
2025 Regular Session
Bill Summary
AN ACT GENERALLY REVISING LAWS REGULATED BY THE COMMISSIONER OF SECURITIES AND INSURANCE, MONTANA STATE AUDITOR; REVISING DEFINITIONS; CLARIFYING LAWS RELATING TO STATE SCHOOL HEALTH TRUSTS THAT ARE APPROVED BY THE COMMISSIONER; REVISING LAWS RELATING TO REPLACEMENT VALUE AND BOOK VALUE; REMOVING A FEE PAID BY SECURITIES ISSUERS TO THE COMMISSIONER; REVISING SECURITIES LAWS RELATED TO STOCK EXCHANGES; REVISING SECURITIES REGISTRATION REQUIREMENTS; REVISING LAWS RELATING TO SECURITIES ACTIONS TO ALLOW AN ACTION TO BE FILED WITHIN 1 YEAR AFTER DISCOVERY; REVISING SECURITIES RESTITUTION FUND ELIGIBILITY; REVISING REGULATORY FILING LAWS; REVISING LAWS RELATING TO DOMESTIC SURPLUS LINES INSURERS; REVISING LAWS RELATING TO INTEREST OF NAMED INSURANCE LAWS AND TRANSFER; REVISING INSURANCE PRODUCER EXCHANGE TRAINING LAWS; REVISING SURETY BAIL BOND INSURANCE TRAINING REQUIREMENTS;REVISING LAWS RELATING TO INSURANCE INFORMATION AND PRIVACY PROTECTION; REVISING LAWS RELATING TO MEDICALLY NECESSARY AND CLINICALLY APPROPRIATE EXAMINATIONS; REVISING LAWS RELATING TO TELEHEALTH; REVISING LAWS RELATING TO RECIPROCAL LIMITATIONS; REVISING LAWS RELATING TO GRACE PERIODS AND NOTICE OF CLAIMS; REVISING LAWS RELATING TO DISCLOSURES BY AN INSURER; REVISING LAWS RELATING TO PAYMENT OF INTEREST BY A HEALTH INSURANCE ISSUER; REVISING LAWS APPLICABLE TO MULTIPLE EMPLOYER WELFARE ARRANGEMENTS; EXTING THE TERMINATION DATE OF THE PROHIBITION AGAINST A PHARMACY BENEFIT MANAGER OR HEALTH CARRIER REQUIRING FEDERALLY CERTIFIED HEALTH ENTITIES TO IDENTIFY 340B DRUGS; AMING SECTION 26, CHAPTER 501, LAWS OF 2021, AND SECTION 1, CHAPTER 259, LAWS OF 2023; AND AMING SECTIONS 2-18-101, 20-3-369, 27-1-306, 30-10-104, 30-10-201, 30-10-307, 30-10-1005, 33-1- 501, 33-2-301, 33-2-306, 33-3-201, 33-17-237, 33-17-243, 33-17-1402, 33-17-1602, 33-19-105, 33-20-1302, 33-22-132, 33-22-138, 33-22-150, 33-22-206, 33-22-208, 33-22-244, 33-22-521, 33-22-906, 33-22-907, 33-22-- 2025 69th Legislature 2025 HB0060 921, 33-22-922, 33-22-923, 33-22-924, 33-32-211, AND 33-35-306, MCA; AND PROVIDING EFFECTIVE DATES.”
AI Summary
This bill proposes a comprehensive set of revisions to various laws regulated by the Montana State Auditor, covering a wide range of insurance, securities, and health-related regulations. The bill makes numerous technical amendments and clarifications across multiple sections of Montana law, including changes to definitions, filing requirements, insurance producer training, securities registration, and health insurance provisions. Key modifications include extending the termination date for certain regulations, revising grace periods and notice requirements for insurance policies, updating securities action timelines to allow filing within one year after discovery, and adjusting regulations for domestic surplus lines insurers. The bill also makes changes to telehealth coverage, insurance producer exchange training, and privacy protection standards. Most provisions will take effect on October 1, 2025, with some sections becoming effective immediately upon passage. The bill aims to streamline and update various regulatory processes and requirements in the insurance and securities sectors, potentially improving consumer protections and administrative efficiency.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Chapter Number Assigned (on 02/28/2025)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
Loading...